AFS Sales Top $2B

SALT LAKE CITY — Associated Food Stores said sales for the year rose 4.6% to $2.01 billion — the first time the company's volume passed the $2 billion mark.

SN had previously estimated volume for AFS’ fiscal year, which ended March 31, at $2.1 billion.

In a presentation at the cooperative wholesaler’s annual meeting, AFS also said it paid out $50.8 million in patronage dividends to members for the year — a boost of 30.9% over the dividend in the prior year.

"We are determined to make our retailers more profitable," said Neil Berube, president and chief executive officer. "We have identified many of the challenges and opportunities we face, and with the support of our board, we implemented plans to help us navigate our way through the economic challenges our business and country face. We have seen improvements and will remain diligent in continuing down this path.

Berube succeeded Rich Parkinson as CEO late last year.